Shale Gas News – January 5, 2019

Bill desRosiers
External Affairs Coordinator, Cabot Oil & Gas

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The Shale Gas News, heard every Saturday at 10 AM on 94.3 FM, 1510 AM and Sundays on YesFM, talked about energy dominance, Opec, LNG exports and much more last week.

The Shale Gas News has grown again; welcome Gem 104 as our FOURTH station! Gem 104 helps to solidify the Shale Gas News coverage in an important Marcellus region, PA’s northern tier. The Shale Gas News is now broadcasting in Bradford, Lackawanna, Lancaster, Lebanon, Luzerne, Lycoming, Pike, Sullivan, Susquehanna, Tioga and Wayne Counties, as well as in greater central PA. The Shale Gas News is aired on Saturday or Sunday depending on the station.

Every Saturday Rusty Fender and I host a morning radio show to discuss all things natural gas. This week, as a guest, we had Gregory Wrightstone, author of Inconvenient Facts.

The Shale Gas News, typically, is broadcast live. On the January 5th show (click above), we covered the following new territory (see news excerpts below):

• Here are Trump’s Largest ‘Energy Dominance’ Actions of 2018. President Donald Trump has pushed his administration toward “energy dominance” by cutting environmental regulations on fossil fuel development and opening up federal lands and waters for energy companies. The Trump administration has dealt significant blows to the environmental legacy of former President Barack Obama, tackling Obama-era regulations, such as the Clean Power Plan, while taking the U.S. out of the Paris climate accord, an international agreement to cut emissions and combat climate change that the Obama administration signed the U.S. onto in 2015 and pushed heavily in its final months.
• JP Morgan: If OPEC doesn’t maintain its cuts, oil could stay lower for longer. If the Organization of the Petroleum Exporting Countries (OPEC) does not follow through with its commitment to reduce oil production throughout this year, Brent crude prices could struggle to rise, according to J.P. Morgan’s head of Asia Pacific oil and gas.  In an early December meeting, OPEC and non-OPEC countries agreed to take about 1.2 million barrels a day off the oil market — initially for six months — starting January, amid a persistent imbalance between global oil supply and demand.
• Shale Drillers Cut Budgets as Oil Prices Drop. Some frackers are scaling back next year’s drilling plans amid weak crude prices, a quick reversal for an industry that months earlier expected 2019 to be a banner year.  Still, the cuts so far have been modest and shale drillers remain on track to push U.S. crude production to new highs next year, further pressuring a global market straining because of oversupply.
• U.S. liquefied natural gas export capacity to more than double by the end of 2019. EIA projects that U.S. liquefied natural gas (LNG) export capacity will reach 8.9 billion cubic feet per day (Bcf/d) by the end of 2019, making it the third largest in the world behind Australia and Qatar. Currently, U.S. LNG export capacity stands at 3.6 Bcf/d, and it is expected to end the year at 4.9 Bcf/d as two new liquefaction units (called trains) become operational.
• NEPA Gas-Fired Plant Gets Noisy, Scares the Neighbors. On Sunday, Dec. 23, residents living near the Lackawanna Energy Center (LEC) in Jessup, PA (near Scranton) woke to a loud noise that sounded like a jet engine–and the release of natural gas into the air.  It’s not the kind of early Christmas present they wanted. LEC is a 1,480 megawatt, $1 billion Marcellus gas-fired electric plant–Pennsylvania’s largest natural gas-fired electric generating plant. Cabot Oil & Gas supplies all of the gas for the plant from neighboring Susquehanna County.
• NFG Building 4.5 Mile NatGas Pipe to Feed Shell Cracker Complex. It’s not often a vital pipeline project, no matter how small, escapes our attention–but this is one of those times.  What prompted our curiosity about a previously (to us) unknown project was this short notice appearing on the PA Environment Digest Blog site.
• PA Supreme Court Rules Strippers Not Exempt from Impact Fee. Pennsylvania strippers are back in the news. Hold on, this is a family-friendly site! We’re talking about stripper wells.  Stripper wells are natural gas wells that produce less than 90 thousand cubic feet per day (90 Mcf/d) of natural gas.  In 2012 Pennsylvania passed the Act 13 drilling law that includes an impact fee on wells targeting shale layers, including the Marcellus.

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